Tropicana Corporation Berhad Annual Report 2019

New Developments Moving into 2020, we will continue to bring to life vibrant living spaces that people aspire to live in. In the next 12 months, we aim to introduce new developments and phases amounting to a GDV of RM1.6 billion at strategic locations as this will sustain our growth performance in 2020 and beyond. Among the key developments to be launched in 2020 is Tropicana Grandhill at Genting Highlands. Located 3,000 feet above sea level, Tropicana Grandhill is a 112.0-acre township with an overall potential GDV ranging between RM12.0 billion to RM15.0 billion. It will be the first township of its kind that promotes holistic and health-centric resort living lifestyle concept, tapping into the tourism sector. A modern tropical retreat, it will combine the best of architecture, using the natural elements that surrounds this hilly landscape. Over the years, we have seen increased interest from tourists and foreigners from Japan, China, South Korea, Southeast Asia, India and the Middle East who prefer fully-furnished units. As such, the first phase of Tropicana Grandhill that is expected to be launched in 2020 will be the TwinPines Serviced Suites with 1,443 units of fully-furnished serviced apartments. Built on 3.6 acres of natural high ground with a GDV of RM930.0 million, it is expected to be ready in 2025. Other new upcoming launches include Shoppes & Residences (South), a mixed development comprising retail lots and serviced apartments at Tropicana Metropark, Subang Jaya; a landed residential phase at Tropicana Aman, Kota Kemuning; Tropicana Miyu condominiums at Jalan Harapan, Petaling Jaya; as well as shop offices at Gelang Patah, Johor. Following the success of our first hotel, W Kuala Lumpur, Tropicana will be opening our second hotel and the first 199-room Courtyard by Marriott in Penang in 2020. This is part of our strategy to beef up the investment property portfolio and boost our recurring income stream. On the retail segment, Tropicana has launched Tropicana Gardens Mall which has a nett lettable area of about one million square feet. Strategically located in the mature area of Tropicana Indah at Kota Damansara, Tropicana Gardens Mall is easily accessible via four major highways, offering good connectivity as it is just 50m from the Surian MRT with a variety of amenities all just within reach. Catering to the community at Tropicana Gardens as well as those in the vicinity, Tropicana Gardens Mall has established a good tenant mix, with its retail space take-up reaching 58% as at 31 December 2019, to be anchored by Village Grocer and MBO Cinemas. Despite market uncertainties over the short-term, we believe that pockets of opportunities and value creation remain boundless. We will continue to stay focused on being market driven in our product offerings while unlocking value of our landbank in strategic locations in the Klang Valley, Genting Highlands and the Southern region of Peninsular Malaysia. Cognisant of this, Tropicana will continue to design sustainable integrated developments that balances people, places and the environment. With our strong foundations in place, we believe we will be able to shape industry trends. We remain focused on driving strong performance and delivering shareholder value. TwinPines Serviced Suites, Tropicana Grandhill, Genting Highlands Management Discussion & Analysis Tropicana Corporation Berhad Annual Report 2019 About Tropicana Our Strategic Performance Our Leadership pg 28